Les Is Less: CBS Falls 17% On Downgrade

Just when you think it can’t get any worse for Les Moonves, it does. He’s already slashed the CBS Inc dividend. Today the stock fell more than 17%. That followed a UBS downgrade of the media stock from neutral to sell because so much of the company’s revenues are generated through auto advertising (65%), including local ads which are also dominated by car commercials. So even though CBS shows comprise half of Nielsen’s Top 10, the stock closed today at $3.79.

@TJ:
THE UNIT, a CBS primetime show about the Army’s Delta Force and their families is as far from “America-hating” as you can get. It in fact shows the military in a good way and honors them.

I sure as hell hope CBS doesn’t ax this show and keep lesser ones on. There isn’t another show like it with as much talent behind and in front of the camera.

Becca
THE UNIT Army Family member from the other side of the screen

Sonny • on Mar 30, 2009 5:01 pm

The Unit is one of CBS’ weakest performing shows. Certain to be cancelled.

Sarah • on Mar 30, 2009 5:01 pm

It’s no surprise that CBS is feeling the effects of the recession/depression as well. I’m sure the other networks are, as well.

With this in addition to the news that CBS is demanding that all shows (including ‘hits’) having to trim their budgets, you can see where they’re hoping funding for their new ‘feature film’ department will come.